FASB: The Dark Side Clouds Everything
April 02, 2009 at 17:52 PM EDT
The new FASB ruling is getting more play than it deserves. I’ve written on mark-to-market many times. I’ve always felt it was a good concept but has been applied incorrectly. When the rules were written, it was never assumed that generalized risk aversion would ever rise to the extent that it has. Thus the rules assumed [...]